Mempool Observations

I’ve been running a website called mempool.observer for a few years now. Since fall 2019, this site includes my Bitcoin Transaction Monitor showing activity on the network. Here are some of my observations listed. My goal is to educate and inform Bitcoin users about some of the weird activity on the network.

Image for The daily BitMEX broadcast at 13:08 UTC

May 4, 2020

The daily BitMEX broadcast at 13:08 UTC

At around 13:00 UTC every day, BitMEX, a cryptocurrency exchange and derivative trading platform, broadcasts multiple megabytes of large transactions into the Bitcoin network. This affects the transaction fees paid during European afternoons and US business hours. The transaction size could be …

Image for The stair-pattern in time-locked Bitcoin transactions

April 27, 2020

The stair-pattern in time-locked Bitcoin transactions

Some of the regularly used Bitcoin wallets, for example, the Bitcoin Core wallet and the Electrum Bitcoin Wallet, set the locktime of newly constructed transactions to the current block height. This is as an anti-fee-sniping measure and visible as a stair-like pattern when plotting time-locked …